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Halloween fright video: “The Mother of All Tax Hikes”

By Michelle Malkin  •  October 30, 2007 11:12 AM

From the NRCC, a true-life horror authored by the Democrats:

John Boehner wrestles with the Pelosi-Rangel tax-hike creature:

Last week, led by the Ways and Means Committee chairman, Rep. Charlie Rangel, D-N.Y., congressional Democrats unveiled a breathtaking proposal: the single largest tax increase in American history.

It’s not often that we can speak in such absolute terms, but in this case, there is no way around it. Dubbed the “Mother of All Tax Bills” by Rangel and embraced by House Speaker Nancy Pelosi, D-Calif., who told reporters last Thursday that she “certainly” supports the tax increase, this monstrosity would raise taxes on everyone: from the very poor to the very rich and everyone in between.

Indeed, with a price tag of $1.3 trillion — yes, that’s “trillion” with a “t” — the Mother of All Tax Bills is actually more like the Mother of All Tax Hikes. And to make matters worse, the Pelosi-Rangel plan kills tax cuts enacted by Congress in 2001 and 2003, making it a $3.5 trillion tax hike in total. Could the news get any worse for American families, farmers, small businesses and other job providers? Not likely.

So what exactly will the Pelosi-Rangel tax increase mean for families?

The most striking feature of the Mother of All Tax Hikes is that it raises taxes on literally every single taxpayer. In 2001, the Republican-led Congress and the president enacted a sweeping tax cut plan that lowered taxes for every American.

The Pelosi-Rangel plan would eliminate those tax cuts, raising taxes for every single tax bracket and eliminating the new 10 percent rate Congress established specifically to reduce the tax burden on low- and middle-income working families.

President Bush
cracked this morning that the Dems haven’t “seen a bill they could not solve without shoving a tax hike into it.”

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